6. Are there any problems with the house?
Disclosure statements serve to inform buyers about a home’s condition and help protect sellers from future legal action if problems are found. While disclosures vary by state and even county, sellers must make disclosures about such items as existing liens, lead-based paint, natural hazards (e.g., flood plain), termite problems, history of property-line disputes and defects with major systems and/or appliances (see Real Estate Flipping: 8 Disclosures You Must Make).
Because there may be problems with the house that the seller knows about – but is not required by law to disclose – it can be helpful to ask point-blank: Are there any problems with the house? You might find out about problems ahead of time and be able to negotiate repair costs. Of course, you should still get a comprehensive inspection before buying the house since there might be issues the seller doesn’t know about or won’t willingly share (see The 5 Most Overlooked Problems In A Home Inspection).
6. Are there any problems with the house?Disclosure statements serve to inform buyers about a home’s condition and help protect sellers from future legal action if problems are found. While disclosures vary by state and even county, sellers must make disclosures about such items as existing liens, lead-based paint, natural hazards (e.g., flood plain), termite problems, history of property-line disputes and defects with major systems and/or appliances (see Real Estate Flipping: 8 Disclosures You Must Make).Because there may be problems with the house that the seller knows about – but is not required by law to disclose – it can be helpful to ask point-blank: Are there any problems with the house? You might find out about problems ahead of time and be able to negotiate repair costs. Of course, you should still get a comprehensive inspection before buying the house since there might be issues the seller doesn’t know about or won’t willingly share (see The 5 Most Overlooked Problems In A Home Inspection).
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